The leaders of Brazil, Russia,
India, China and South Africa, meeting in
New Delhi on Thursday, drafted a
joint statement lambasting the West's
"aggressive monetary policies" and
dominance of global institutions.

Collectively known as the BRICS, the
heads of the world's five largest
emerging economies also took steps at the
fourth annual summit toward
greater unity and launched a proposal to create
a financial institution
that could eventually rival the World Bank.
...

(2) BRICS "South-South" development bank an alternative to World
Bank.

Group of five rising powers to discuss
creation of "South-South"
development bank in mould of World
Bank.

Last Modified: 28 Mar 2012 14:55

The proposal of a
development bank is high on the agenda at the summit
of the five BRICS bloc
nations - Brazil, Russia, India, China and South
Africa - starting on
Thursday in New Delhi.

The proposal for a "South-South" development bank
in the mould of the
World Bank is one of the main points to be discussed by
the group of
five rising powers at the fourth BRICS summit.

The
initiative would allow the countries to pool resources for
infrastructure
improvements, and could also be used in the longer term
as a vehicle for
lending during global financial crises such as the one
in Europe, officials
said.

"What will be discussed (in New Delhi) is the possibility of
setting up
a BRICS development bank for infrastructure projects,
development, not
only in member countries but also in developing countries,"
Maria
Edileuza Fonteneles Reis, a senior Brazilian foreign ministry
official,
said.

Fernando Pimentel, the Brazilian industry and trade
minister, told
reporters in Brasilia last week, "the proposal to set up a
BRICS bank,
an international, investment bank of these five countries," is
the main
item on the agenda.

He said that the countries would sign a
deal at the summit to study the
creation of the bank.

Ambitious
project

Sudhir Vyas, a senior Indian foreign ministry official, told
reporters
on Monday that the BRICS would have to determine how the bank
would be
structured and capitalised. Such an ambitious project would take
time,
he said.

"We don't set up a bank every ordinary day," he
said.

Pimentel said the proposed bank did not mean "abandoning
multilateral
mechanisms" such as the World Bank (WB) and the InterAmerican
Development Bank (IDB) but was a response to today's economic
necessities.

The WB and the IDB "have specific functions which they
fulfill well,
such as providing financing for low-income countries" but the
current
needs go well beyond this, Pimentel said.

A benchmark equity
index derivative shared by the stock exchanges of the
five BRICS nations is
also to be launched on Friday, the exchanges said
earlier this
month.

They would be cross-listed, so can be bought in local
currencies.

The leaders are also expected to sign agreements allowing
their
individual development banks to extend credit to other members in
local
currency, a step towards replacing the dollar as the main unit of
trade
between them.

The five members now account for roughly 18 per
cent of the world's GDP,
15 per cent of global trade and hold 40 per cent of
global currency
reserves. They account for the 40 per cent of the world
population.
Source:

NEW
DELHI: In an initiative to promote trade in local currencies, the
BRICS
nations today signed two agreements to provide line of credit to
business
community and decided to examine the possibility of setting up
a development
bank on lines of multilateral lending agencies.

The agreements were
signed by officials of five countries -- Brazil,
Russia, India, China and
South Africa -- at the fourth BRICS summit here.

"The agreements signed
today by development banks of BRICS countries
will boost trade by offering
credit in our local currency," Prime
Minister Manmohan Singh said in a media
statement after the meeting.

The Master Agreement on Extending Credit
Facility in Local Currency and
the Multilateral Letter of Credit
Confirmation Facility Agreement are
being perceived as a step towards
replacing the dollar as the main unit
of trade between them.

Such
intra-BRICS initiatives, according to officials, will not only
contribute to
enhanced trade and investments among the nations but would
also facilitate
economic growth in difficult economic times.

As regards the initiative to
set up a BRICS Development Bank on the
lines of multilateral lending agency,
Singh said the proposal would be
examined by the finance
ministers.

"A suggestion has been made to set up a BRICS development
bank, we have
directed our FM to examine the proposal and report back by
next summit,"
Singh said.

The initiative to set up a BRICS
Development Bank on the lines of the
World Bank would allow the member
countries to pool resources for
infrastructure development and could also be
used to lend during the
difficult global environment.

Intra-BRICS
trade is about USD 230 billion and has the potential of more
than doubling
to USD 500 billion by 2015.

By The Times of India
29 March 2012
@
The Times of India

(4) BRICs Bank To Rival World Bank and IMF and
Challenge Dollar Dominance

Outgoing President of the
World Bank, Robert Zoellick, after just three
days ago dismissing the idea
of a BRICs created, new global multi
lateral bank, has come around and
endorsed a BRICs bank in an interview
with the FT.

Zoellick had
initially said that a BRICs bank and potential rival to the
western and U.S.
dominated IMF and World Bank, would be difficult to
implement given
competing BRIC interests.

He acknowledged that a BRICs bank was being
created and said that the
World Bank supported such a bank. He said that not
having Russia and
China as part of "the World Bank system" would be a
"mistake of historic
proportions".

Leaders of the BRICS nations
meeting in India appear to have made much
progress in creating a new global
bank as the emerging economies seek to
convert their growing economic might
into collective diplomatic influence.

The five countries now account for
nearly 28% of the global economy, a
figure that is expected to continue to
grow.

On Thursday morning, President Hu Jintao of China, President Dmitry
Medvedev of Russia , President Dilma Rousseff of Brazil, President Jacob
Zuma of South Africa and Prime Minister Manmohan Singh of India shook
hands at the start of the one day meeting in New Delhi.

Top of the
agenda was the creation of the grouping's first institution,
a so-called
"BRICS Bank" that would fund development projects and
infrastructure in
developing nations.

The initiative would allow the countries to pool
resources for
infrastructure improvements, and could also be used in the
longer term
as a vehicle for lending during global financial crises such as
the one
in Europe, officials said.

Less noticed and commented upon is
the aspirations of the BRIC nations
to become less dependent on the global
reserve currency, the dollar and
to position their own currencies as
internationally traded currencies.

The leaders of BRIC nations and other
emerging market nations have
adopted the idea of conducting trade between
the five nations in their
own currencies. Two agreements, signed among the
development banks of
Brazil, Russia, India, China and South Africa, say that
local currency
loans will be made available for trade between these
countries.

The five fast growing nations participating in local currency
trade will
allow participants to diversify their foreign exchange reserves,
hedging
against the growing risk of a euro or dollar crisis.

The
BRICS want to have easy convertibility of currency to make it easier
to use
the real, ruble, rupee, renminbi and rand amongst themselves
without having
to always use the US dollar. Higher intra-Brics trade,
conducted in their
own currencies would shield their economies from
economic dislocations in
the west.

In the long run, if global dependence and exposure to the
dollar is to
be reduced, then the BRICs currencies will have to trade
amongst
themselves, creating an intra Brics currency market. This could lead
to
a special reserve BRICs currency that could rival the IMF's Special
Drawing Rights (SDRs) and in time a regional currency could emerge.
However, the EU's experience of a single currency may make this less
likely. ...

(5) BRICS bank could struggle to match the World Bank's
expertise - Robert Zoellick

(Reuters) - A plan to form a joint development bank by the BRICS
group
of the world's most powerful emerging economies will have a hard time
getting off the ground and could struggle to match the World Bank's
expertise, World Bank President Robert Zoellick said.

Deflecting
criticism that the World Bank is too dominated by the United
States,
Zoellick said it had changed dramatically in his term, with a
managing team
now made up of many more figures from the emerging world.

Leaders from
Brazil, Russia, India, China and South Africa were meeting
in New Delhi on
Thursday to outline plans for a new bank which will help
fund infrastructure
and act as alternative lender to the World Bank and
other finance
bodies.

Zoellick told Reuters in an interview late on Wednesday that
there are
already a series of regional development banks and many countries
have
their own such banks, but if a BRICS bank was formed, the World Bank
would work closely with it.

"I think the interests of India may be
more in terms of bringing capital
in, the interests of China may be more in
terms of internationalizing
the Renminbi. I think Russia is a little
uncertain and Brazil has a very
big development bank," he said.

"The
World Bank works with private sector funders, development banks,
regional
banks and we'd work with a BRICS bank, but it would probably be
difficult
for it to replicate the knowledge and expertise that we fund."

Zoellick,
who was visiting a bank-funded coastal conservation project in
east India's
Orissa state, told reporters later that setting up a new
bank was "a
complicated venture" which would present challenges such as
getting capital
and a good rating from international financial agencies.

The head of the
global money lender is ending his five-year term in June
and the job is now
one of the most hotly contested, with a U.S.
candidate for the first time
being challenged by two contenders from the
developing world.

Under a
so-called "gentleman's agreement" between the U.S. and Europe,
Washington
has claimed the top post at the World Bank since its founding
after World
War Two, while a European has always led the International
Monetary Fund
(IMF), its sister Bretton Woods institution.

"TRANSPARENT"
CONTEST

There have been calls by BRICS and other developing nations that
these
top positions should better reflect the growing power and influence of
emerging economies, which are now responsible for more than half of
global economic growth.

Ngozi Okonjo-Iweala, Nigerian finance
minister and former managing
director of the World Bank under Zoellick, has
gained the support of
African leaders, while Brazil has nominated former
Colombian finance
minister Jose Antonio Ocampo.

But they face stiff
opposition from the U.S.-nominated candidate Jim
Yong Kim, a Korean-American
health expert whose name was put forward by
U.S. President Barack Obama on
Friday.

Zoellick said all three candidates were "excellent", but added
that the
bank's senior leadership was already showing more and more
representation from emerging economies.

"If you take the overall
leadership at the bank, with all the different
positions, it is more
representative. I appointed the first chief
economist who was from China,"
he said.

"At one point, the three managing directors that reported to me
were all
from the developing world. I think that it's not just a question of
the
head of organization, but the organization as a whole."

He said
the decision on his successor would be made in April by the
bank's board,
which represents its 187 shareholders. The selection
process is transparent
and based on merit, he said, dismissing concerns
by BRICS that it was
heavily weighted in favor of the U.S. candidate.

The candidates will have
to think through where they want to take the
bank, he said, adding that the
board of governors, will interview each
of them to understand their plans
for the future.

Zoellick who took over the bank in 2007 after serving as
the U.S. deputy
secretary of state, said it was good that Americans have a
chance to run
global institutions.

"The United States has never had
anybody lead the IMF, they've never led
the World Trade Organisation,
they've never had anyone be the U.N.
Secretary General, they've never had
anybody lead the regional
development banks," he said.

"So personally
as an American, who has worked with multilateral
organizations, it's good
for Americans to have a chance to run some of
them. Whether it's the World
Bank or others, that's a whole different
question."

(Reuters)
- Leaders of the BRICS group of emerging market nations
pressed Western
powers to cede more voting rights at the IMF this year
and flayed the rich
world's reflationary monetary policies for putting
global economic stability
in jeopardy.

"This dynamic process of reform is necessary to ensure the
legitimacy
and effectiveness of the Fund," Brazil, Russia, India, China and
South
Africa said in a joint declaration after their one-day summit in New
Delhi.

"We stress that the ongoing effort to increase the lending
capacity of
the IMF will only be successful if there is confidence that the
entire
membership of the institution is truly committed to implement the
2010
Reform faithfully."

Promised changes to voting rights at the IMF
have yet to be ratified by
the United States, adding to frustration over
reform of the G7 and the
U.N. Security Council, where India and Brazil have
been angling for
years for permanent seats.

The BRICS leaders also
accused rich countries of destabilizing the world
economy five years into
the global financial crisis.

"It is critical for advanced economies to
adopt responsible
macroeconomic and financial policies, avoid creating
excessive global
liquidity and undertake structural reforms to lift growth
that create
jobs," they said in a joint declaration.

The rich world's
monetary policy "brings enormous trade advantages to
developed countries,
and results in unfair obstacles for other
countries," Brazil's President
Dilma Rousseff said at the summit.

Security was tight in New Delhi, days
after an activist set himself on
fire in protest at Chinese rule in Tibet,
dying from his injuries just
hours before China's President Hu Jintao
arrived. Police grappled with
small groups of pro-Tibet
protesters.

IRAN'S NUCLEAR RIGHTS

The declaration said the crises
over Iran's nuclear program should be
resolved diplomatically and should not
be allowed to escalate. It also
recognized the right of Iran to pursue
peaceful nuclear energy.

"We agreed that lasting solution to the problems
in Syria and Iran can
only be found through dialogue," Indian Prime Minister
Manmohan Singh said.

The five BRICS nations, which collectively account
for nearly half the
world's population and a fifth of its economic output,
signed an
agreement to extend credit facilities in their local currencies, a
step
aimed at reducing the role of the dollar in trade between
them.

They also agreed to examine in greater detail an Indian proposal to
set
up a BRICS-led South-South Development Bank, funded and managed by the
BRICS and other developing countries.

"We have directed the finance
ministers to examine the proposal and
report back at the next summit," Singh
said.

Other moves to bring their economies closer together include the
launch
on Friday of benchmark equity index derivatives allowing investors in
one BRICS country to bet on the performance of stock markets in the
other four members without currency risk. The indexes will be
cross-listed on their stock exchanges from Friday.

Leaders
of the world's most powerful emerging economies have threatened
to withhold
additional financing requested by the International Monetary
Fund to fight
the European sovereign debt crisis unless they gain
greater voting power at
the Fund. Meeting in India on Thursday, the
heads of state from Brazil,
Russia, India, China and South Africa
expressed frustration at the slow pace
of reform at the Washington-based
multilateral lender, historically
dominated by Europe and the US.

In a joint statement, the so-called Brics
nations said there was an
urgent need to "better reflect economic weights"
and "enhance the voice
and representation of emerging market and developing
countries" at the IMF.

"We stress that the ongoing effort to increase the
lending capacity of
the IMF will only be successful if there is confidence
that the entire
membership of the institution is truly committed to
implement the 2010
reform faithfully," the said. The Fund's shareholders
agreed in 2010 to
shift more of its voting weight towards emerging markets
nations, but
the US has not passed enabling legislation.

The leaders
also criticised western countries for their poor handling of
the global
economy in the aftermath of the financial crisis. Dilma
Rousseff, Brazil's
president, accused western countries of causing a
"monetary tsunami" by
adopting aggressive expansionist policies such as
low interest rates, which
are making emerging economies less competitive
globally.

"This crisis
started in the developed world," Ms Rousseff said. "It will
not be overcome
simply through measures of austerity, fiscal
consolidations and depreciation
of [labour costs], let alone through
quantitative easing policies that have
triggered what can only be
described as a monetary tsunami, have led to a
currency war and have
introduced new and perverse forms of protectionism in
the world."
Despite uniting over reform of the IMF, the Brics failed to
coalesce
around one of the two non-US candidates seeking the presidency of
its
sister organisation, the World Bank. Ngozi Okonjo-Iweala, the Nigerian
finance minister, and José Antonio Ocampo, the former Colombian finance
minister, are both vying for the job, which traditionally goes to an
American.

Barack Obama, US president, has nominated Jim Yong Kim, the
president of
Dartmouth College and a former head of the HIV/Aids programme
at the
World Health Organisation.

Speaking to the Financial Times, Mr
Ocampo said Mr Kim lacked the
appropriate experience for the job. He also
said he would be open to
discussions with Ms Okonjo-Iweala on whether one of
them should pull out
of the race at some point so that the developing world
can back a single
candidate.

"I think in terms of development
expertise it is quite clear to everyone
that the finance minister of Nigeria
and myself stand above the US
candidate, who has very narrow expertise in
development," Mr Ocampo
said. "He is an excellent physician, nobody denies
that, but we're
talking about a development institution."

Separately,
the Brics, which represent about 45 per cent of the world's
population and a
quarter of the global economy at $13.5tn, set up a
finance minister-led
working group to consider formally creating a
common Development Bank for
the grouping.

This is the first step towards an emerging market bank and
comes as the
five countries have demanded greater financing support from the
World
Bank for infrastructure development.

Robert Zoellick, the
outgoing president of the World Bank, told Reuters
that a Brics-backed bank
would have a hard time getting off the ground
and would struggle to match
the World Bank's expertise. The criticisms
by the Brics reflected their
growing confidence as well as frustrations
about the skewed governance
structure of multilateral organisations.
Eswar Prasad of the Brookings
Institution, a former senior IMF official,
said the emerging nations see the
IMF, the World Bank and other
organisations as being unfairly stacked in
favour of advanced economies.

"They see the policies of advanced
economies and the present structure
of the international monetary system as
significant threats to their own
economic stability," he
said.

As
a marketing tool, the Brics brand has been a huge success. It has
focused
attention on the rising power of five fast-growing economies
that account
for almost half the world’s population and a quarter of its
economy. But for
all its sunny show of ... {someone please send me the rest}

{http://www.realjewnews.com/
My Name Is
Brother Nathanael Kapner
I'm A "Street Evangelist"
I Grew Up As A
Jew
I'm Now An Orthodox Christian
I Wish To Warn How Zionist Jews
Are
Destroying Christianity Throughout The World}

Can anything good come out
of Brussels?

Well, with International Jewry’s reign of financial terror
across the
Eurozone — operating out of Brussels — and command of
globalization’s
financial trading service, “SWIFT” — also operating out of
Brussels
—most would answer with a resounding, “No way.”

And now with
Zionist Jewry’s — headed by AIPAC and its countless
powerful Lobbies
throughout the Western World — latest personification
of evil focused on
Iran’s President, Mahmoud Ahmadinejad and its Supreme
Leader, Ali Khamenei,
Jewry’s weapons of economic mass destruction have
found a whole new
target.

You see, the so-called “nuclear threat” that Iran supposedly
poses
toward Israel, (and of course the entire world as well), is just a
cover
for Jewish Finance Capital’s efforts to delay…emphasis on delay…the
end
of the dollar as the world’s reserve currency, at least until they can
secure control of a brand new one.

It’s the threat of Iran’s oil
exports traded in the various currencies
of the BRICS nations—Brazil,
Russia, India, China, South Africa—that
poses the real threat to the
International Banking Cabal, at least until
Zionist Jewry can figure out a
way to gain total control over the BRICS
nations.

And they found a
way to start doing just that: “SWIFT.”

You see, just last week, the
leaders of the BRICS nations met in New
Delhi to deal with the implications
of America’s latest sanction against
Iran. A world-threatening sanction at
that.

By banning Iran’s banks from using member-owned “SWIFT”…the way
money in
international trading is sent from bank to bank…(apparently under
Zionist-America control), ALL the nations of the world have been put ON
NOTICE that they could very well be next.

And the BRICS ain’t happy
’bout that.

For this is truly Zionist Jewry’s brand new way of waging
war. If bombs
and NATO invasions won’t work—then “SWIFT” — Zionist Jewry’s
deadly
Weapon of Mass Economic Destruction, will.

But International
Jewry could be shooting itself in its foot.

Not only have the BRICS
pledged to start trading in their OWN currencies
instead of the dollar —
some in gold with Iran — they also agreed to
form an alternative
International Bank to rival the Zionist-run World
Bank with an
infrastructure providing for their own “SWIFT” system of
transferring money
from bank to bank.

[CLIP: “The leaders of Brazil, Russia, India, China,
and South Africa,
meeting in New Delhi on Thursday, drafted a joint
statement lambasting
the West, quote, ‘aggressive monetary policies and
dominance of global
institutions.’

“Collectively known as the BRICS,
the heads of the world’s five largest
emerging economies also took steps at
the Fourth Annual Summit towards
greater unity and launched a proposal to
create a Financial Institution
that could eventually rival the World
Bank.”]

What does this mean for the future of Judaic
tyranny?

Methinks that the BRICS’ foremost nation, an emerging Russia…now
a
Christian country with two Christian leaders, Vladimir Putin and Dmitry
Medvedev…can lead the way to an entirely New and Better World
Order.

The Society for
Worldwide Interbank Financial Telecommunication
("SWIFT") operates a
worldwide financial messaging network which
exchanges messages between banks
and other financial institutions. SWIFT
also markets software and services
to financial institutions, much of it
for use on the SWIFTNet Network, and
ISO 9362 bank identifier codes
(BICs) are popularly known as "SWIFT codes".
...

The majority of international interbank messages use the SWIFT
network.
As of September 2010, SWIFT linked more than 9,000 financial
institutions in 209 countries and territories, who were exchanging an
average of over 15 million messages per day (compared to an average of
2.4 million daily messages in 1995).[1] SWIFT transports financial
messages in a highly secure way, but does not hold accounts for its
members and does not perform any form of clearing or
settlement.

SWIFT does not facilitate funds transfer, rather, it sends
payment
orders, which must be settled via correspondent accounts that the
institutions have with each other. Each financial institution, to
exchange banking transactions, must have a banking relationship by
either being a bank or affiliating itself with one (or more) so as to
enjoy those particular business features.

SWIFT is a cooperative
society under Belgian law and it is owned by its
member financial
institutions. SWIFT has offices around the world. SWIFT
headquarters,
designed by Ricardo Bofill Taller de Arquitectura are
located in La Hulpe,
Belgium, near Brussels. ...

In January 2012, the advocacy group United
Against Nuclear Iran (UANI)
implemented a campaign calling on SWIFT to end
all relations with Iran's
banking system, including the Central Bank of
Iran. UANI asserted that
Iran's membership in SWIFT violated USA and EU
financial sanctions
against Iran as well as Swift's own corporate
rules.[17]

Consequently, in February 2012, the U.S. Senate Banking
Committee
unanimously approved sanctions against SWIFT aimed at pressuring
the
Belgian financial telecommunications network to terminate its ties with
blacklisted Iranian banks. Expelling Iranian banks from SWIFT would
potentially deny Iran access to billions of dollars in revenue and
spending using SWIFT, but not from using IVTS. Mark Wallace, president
of UANI, praised the Senate Banking Committee.[18]

Initially SWIFT
denied it was acting illegally[18], but now says "it is
working with U.S.
and European governments to address their concerns
that its financial
services are being used by Iran to avoid sanctions
and conduct illicit
business."[19] Targeted banks would be - amongst
others - Saderat Bank of
Iran, Bank Mellat, Post Bank of Iran and Sepah
Bank [20].

On 17 March
2012, following agreement two days earlier between all 27
member states of
the Council of the European Union and the Council's
subsequent ruling, SWIFT
disconnected all Iranian banks from its
international network that had been
identified as institutions in breach
of current EU sanctions, and that even
more Iranian financial
institutions could be disconnected from the
network.

[edit]United States of America government control over
transactions
within the European Union

On February 26th 2012 the
Danish newspaper Berlingske reported that USA
authorities evidently have
sufficient control over SWIFT to seize money
being transferred between two
EU countries (Denmark and German), since
they have seized around U$26,000
which were being transferred from a
Danish to a German bank. The money was a
payment by a Danish businessman
for a batch of Cuban cigars previously
imported to Germany by a German
supplier. As justification for the seizure,
the U.S. Treasury has stated
that the Danish businessman has violated the
United States embargo
against Cuba.[21] ...

About Me

'Mission statement'.
I am convinced that jewish individuals and groups have an enormous influence on the world. The MSM are, for almost all people, the only source of information, and these are largely controlled by jewish people.
So there is a huge under-reporting on jewish influence in the world.
I see it as my mission to try to close this gap. To quote Henry Ford: "Corral the 50 wealthiest jews and there will be no wars." `(Thomas Friedman wrote the same in Haaretz, about the war against Iraq! See yellow marked area, blog 573)
If that is true, my mission must be very beneficial to humanity.